Tesla Model 3 will be the cheapest electric car to hit the dealership stores in the near future. There is no confirmed timeframe yet, but it is expected to be out in the next three to four years.

Despite tough competition from some of the biggest automakers in the world, Tesla managed to leap past them in the world of electric cars. The company has successfully launched the Model S, a car most preferred in the European market for its emission free design and great mileage. They followed it up with the Model X SUV with falcon wing doors. It is a visual delight that made buyers happy to the core, despite its price tag. After launching these, Elon Musk, CEO of the company announced that they are working on a Model 3 car designed to bring electric technology to mainstream customers.

The car was supposed to be cheap at launch and the manufacturer will make revenue by selling them in large numbers. With so many years to go before its official launch, it is surprising to see its price leak out so early. In a discussion at the Tesla Motors Club forums, a random user asked the company about the Model 3 car and its expected price tag. The extremely user friendly people at Tesla didn’t hesitate, but replied.

A representative of the company spoke at the NEC meet who revealed that the Model 3 will be available for buyers at £25,000 in the United Kingdom. Earlier rumors claimed the car to be priced at $25,000 on launch, but if it is going to be at this price point in UK, it could probably be much lesser in the United States. The pricing doesn’t include any incentives according to the rep, who spoke about the car during the solar energy meet.

The way companies price their products has always made the customers wary of the actual conversion rates. Based on this claim, the upcoming electric sedan from Tesla should be just £19,000, because it is expected to be priced at $30,000 in the US. But, many have the habit of pricing stuff the same in dollars, euros and pounds despite the latter two being much higher in terms of value when compared to US dollars.

Tesla Model 3 could be £20,000 on launch, according to a commenter in the forum. He claims that with some incentives and conversion rates in the next three years, it should be at this price point so as to make it readily affordable to everyone.